RE:RE:RE:RE:Chart Review, 1.4 millionBoy, I wish it was just as easy as watching Gold. The resistive trendlines and Bearish Rising Wedge flash caution and the present price is a good place to add a short. The outside potential outlier is the price of Gold, which has an over-weight influence on Gold miner equity prices.
Should Gold shoot up to $2400 (spot Gold at $2342 presently), with the bullish underpinnings of high trade volume, I believe would outweigh the Bearish technical signs shown in the chart. So in essence, Gold trading sideways or down a little, we should see Aris move lower to test the support line. But if we get a surge in Gold, that would have the effect of causing buyers to move in and shorts to cover regardless of the present chart picture. I believe a $60 surge higher in Gold would be enough to set off this sequence of events and push the stock to C$6.
The great news, if you are long on the stock, is the US ticker ARMN, as I type, has 610,000 shares traded today versus 462,000 shares in the Canadian ticker ARIS.TO. I don't recall a day that the US ticker had more volume than the Canadian one. The high volume in the US largely represents new buyers. In an earlier post of mine, I mused about the US volume taking over the Canadian volume sometime next year. One day doesn't make a trend, but it is a fresh development. Let's see if today is a one off or an emerging weekly occurence.